NeoCore Technology Co., Ltd (4131) AI Stock Analysis

NeoCore Technology Co., Ltd

(TPEx:4131)

Select Model

Rating:42Neutral

Price Target:TWD 29.00▼(-5.38% Downside)

Action:initiatedcoverage

Date:11/10/26

Weak profitability and cash generation are the primary risks, compounded by increased debt. Technical trends are also unfavorable, while the negative P/E and lack of dividend support provide no valuation cushion.

Positive Factors

Revenue RecoveryThe sharp 2025 revenue rebound indicates improving commercial traction and a stronger top-line base than in the prior year. If this growth persists, it could provide operating leverage and support investment in the company’s biotechnology activities over the next several quarters.

Negative Factors

Persistent UnprofitabilityNeoCore has not yet established sustainable earnings power: operating and net margins remain materially negative despite the revenue and gross-margin recovery. Continued losses can constrain reinvestment, weaken return potential, and make future growth increasingly dependent on external funding.

NeoCore Technology Co., Ltd (4131) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 1.23B
Dividend Yield: ―
Average Volume (3M): 18.34K
Price to Earnings (P/E): -37.2
Beta (1Y): 0.07
Revenue Growth: 42.88%
EPS Growth: -34.50%
Country: TW
Employees: 44
Sector: General
Sector Strength: 55
Industry: Biotechnology

NeoCore Technology Co., Ltd Business Overview & Revenue Model

Company Description

NeoCore Technology Co., Ltd. is primarily engaged in the creation, manufacture, and distribution of biochips and advanced rapid nucleic acid hybridization devices. Their extensive product range features systems designed for food safety screening, hum...

NeoCore Technology Co., Ltd Financial Statement Overview

Summary

Revenue and gross margin improved materially, but persistent net and operating losses, negative free cash flow, and sharply higher debt keep financial performance weak.

Income Statement

35Negative

Balance Sheet

60Neutral

Cash Flow

25Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Mar 2024	Dec 2022	Dec 2021
Income Statement
Total Revenue	277.54M	244.66M	61.55M	64.73M	88.97M	88.93M
Gross Profit	110.17M	86.45M	3.29M	-9.09M	11.78M	19.40M
EBITDA	3.62M	-33.41M	-43.89M	-72.11M	-29.49M	-15.11M
Net Income	-34.73M	-34.24M	-48.14M	-64.64M	-28.21M	-17.20M
Balance Sheet
Total Assets	581.03M	549.84M	340.76M	548.75M	266.79M	281.96M
Cash, Cash Equivalents and Short-Term Investments	76.27M	114.51M	207.99M	299.29M	46.26M	39.87M
Total Debt	186.04M	158.66M	24.46M	96.89M	114.08M	96.69M
Total Liabilities	274.16M	248.84M	35.67M	197.47M	185.81M	164.60M
Stockholders Equity	286.13M	282.54M	305.09M	347.68M	75.93M	112.05M
Cash Flow
Free Cash Flow	-82.25M	-26.30M	-69.66M	-75.42M	-3.43M	-17.15M
Operating Cash Flow	-38.54M	-20.67M	-57.15M	-63.88M	-2.69M	-17.15M
Investing Cash Flow	18.81M	-63.21M	-25.17M	-11.69M	5.51M	2.50M
Financing Cash Flow	53.43M	-9.61M	-2.97M	328.60M	27.06M	-3.44M

NeoCore Technology Co., Ltd Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:4131 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:4161	61Neutral	TWD 1.22B	11.45	―	3.32%	7.54%	35.87%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:4133	48Neutral	TWD 1.20B	27.03	―	0.56%	-4.19%	―
TW:4109	45Neutral	TWD 1.21B	256.25	―	1.95%	13.00%	902.22%
TW:4131	42Neutral	TWD 1.21B	-37.17	―	―	42.88%	-34.50%

* General Sector Average

Performance Comparison

TW:4131 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:4131	NeoCore Technology Co., Ltd	30.65	-2.00	-6.13%
TW:4109	Jia Jie Biomedical Co., Ltd.	10.25	-5.51	-34.96%
TW:4133	Abnova Taiwan Corp.	20.00	-3.47	-14.79%
TW:4161	Bioptik Technology, Inc.	21.10	-4.50	-17.57%
TW:4195	Genomics BioSci & Tech. Co., Ltd.	14.90	-10.05	-40.28%
TW:7803	aetherAI Co., Ltd.	12.50	-20.15	-61.72%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Nov 09, 2026

NeoCore Technology Co., Ltd AI Stock Analysis